Home sales down 1.3% in July

OTTAWA – The Canadian Real Estate Association says July marked the third consecutive month of fewer housing sales.

The association says the number of transactions fell 1.3 per cent nationally between June and July.

READ MORE: Construction of new houses down in July, says CMHC

More than half of all markets tracked by CREA showed declines in July, including Greater Vancouver and the Fraser Valley.

The number of sales in July was also down 2.9 per cent compared with the same month a year ago.

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The national average price for a home sold in July was $480,743, up 9.9 per cent compared with a year ago.

If Vancouver and Toronto are excluded from calculations, the average price was $365,033, up 7.0 per cent compared with the same month last year.